South Korea Blocks 27 Crypto Exchange Websites, Including KuCoin and MEXC

KuCoin, MEXC, and 25 other overseas crypto platforms face website restrictions in South Korea for operating without required local registration. South Korea is expanding its crackdown on unregistered exchanges. Financial authorities have ordered blocks on 27 overseas cryptocurrency exchange websites operating without registration in the country. The list includes major platforms such as KuCoin, MEXC, BingX, Phemex, XT.com, Bitrue, CoinW, Poloniex, BTCC, and BitMart. The decision comes after two reviews held on October 6 and 7 by the Korea Communications Standards Commission. New Restrictions The Financial Intelligence Unit (FIU) announced the move on October 13. Authorities had already restricted downloads and updates of their apps on Google Play and Apple’s App Store. Now, they are extending those restrictions to the exchanges’ websites. The enforcement approach is also becoming stricter. Crypto exchanges that want to serve users in South Korea must meet local requirements, which include obtaining Information Security Management System (ISMS) certification and filing a report with the FIU. Overseas platforms are also covered if they target Korean customers. This can include operat...